2025-07-03T14:12:12-05:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 561295697 VIZO FINANCIAL CORPORATE CREDIT UNION VIZO 3362174992 7900 TRIAD CENTER DRIVE 410 GREENSBORO NC 27409 MARK BROWN SVP/CFO 3362174907 2025-07-03 1 0 AUBREY CLEGG P01076395 3052328272 2025-07-03 2024 2025-03-06 01:10:19Z FRED EISEL 7900 TRIAD CENTER DRIVE SUITE 410 GREENSBORO NC 27409 342674561 0 X WWW.VFCCU.ORG X 1980 NC VIZO FINANCIAL IS THE CREDIT UNIONS' 'CREDIT UNION' OFFERING LIQUIDITY SERVICES, INVESTMENT SOLUTIONS AND PAYMENT SERVICES. 9 9 190 16 0 0 0 0 27513467 19982399 248777931 323955161 35772163 -1262999 312063561 342674561 269800 89100 0 0 21283180 21921658 0 0 0 229645312 287540148 251198292 309550906 60865269 33123655 6042910980 6045495809 5487508061 5460539370 555402919 584956439 ACCELERATING CREDIT UNION SUCCESS THROUGH PROVEN INSIGHT, UNMATCHED EXPERTISE AND TRUSTED PARTNERSHIPS. 0 0 SETTLEMENT AND PAYMENT SERVICES: WE PROVIDE AGGREGATED PAYMENT SERVICES SO CREDIT UNIONS CAN EFFICIENTLY, AND COST EFFECTIVELY SERVE THEIR MEMBERS, PROVIDING THEM TOOLS FOR MOVING MONEY ELECTRONICALLY. FUNDS MANAGEMENT & LIQUIDITY SERVICES: ONE OF THE KEY SERVICES WE PROVIDE MEMBERS IS A COMPLETE LINE OF COMPETITIVE SHORT-TERM DEPOSIT PRODUCTS COMBINED WITH LINES-OF-CREDIT SO THAT THEY CAN MORE EFFECTIVELY MANAGE THEIR CASH FLOW NEEDS. ASSET-LIABILITY MANAGEMENT (ALM) AND RISK MANAGEMENT SERVICES: ALM SERVICES INCLUDE BOTH CONSULTING AND MODELING RISKS INHERENT IN A CREDIT UNION'S BALANCE SHEET. OUR RISK MANAGEMENT SERVICES INCLUDE COMPLIANCE/REGULATORY TRAINING, INFORMATION SYSTEM RISK ASSESSMENTS, BUSINESS CONTINUITY PLANNING, AND ENTERPRISE RISK MANAGEMENT BEST PRACTICES. THESE SERVICES ARE DESIGNED TO HELP CREDIT UNIONS BEST UNDERSTAND AND MITIGATE RISKS THEY ENCOUNTER IN THEIR OPERATIONS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 39 0 1 190 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X MARK BROWN 3362174907 7900 TRIAD CENTER DRIVE SUITE 410 GREENSBORO NC 27409 SCOTT WOODS DIRECTOR 3.00 X 0 0 0 JEFF CHELIUS BOARD CHAIRPERSON 3.00 X 0 0 0 GENICE DECORTE BOARD TREASURER 3.00 X 0 0 0 DANIEL BERRY BOARD VICE CHAIRPERSON 3.00 X 0 0 0 DEREK FUZZELL BOARD SECRETARY 2.00 X 0 0 0 PAUL HUGHES DIRECTOR 2.00 X 0 0 0 JERRY KING DIRECTOR 2.00 X 0 0 0 MARK VOLPONI DIRECTOR 2.00 X 0 0 0 SCOTT WEAVER DIRECTOR 2.00 X 0 0 0 FRED EISEL PRESIDENT/CEO 40.00 X 550991 0 56277 MARK BROWN SVP/CHIEF FINANCIAL OFFICER 40.00 X 410293 0 149191 DAVID BREHMER PRESIDENT/CEO (RETIRED 01/05/24) 40.00 X 218678 0 15668 TIMOTHY J SUSTAK SVP/CHIEF TREASURY OFFICER 40.00 X 544979 0 59325 SCOTT WOOD SVP/CHIEF INVESTMENT OFFICER 40.00 X 291524 0 64346 JEFFREY STONER SVP/CHIEF STRATEGY & TECHNOLOGY OFFICER 40.00 X 778996 0 68431 RODNEY MAY SVP/CHIEF ENGAGEMENT OFFICER 40.00 X 708619 0 66062 LORI GALL SVP/CHIEF RISK OFFICER 40.00 X 681557 0 52646 JOSEPH BERTOTTO SVP/CHIEF CULTURE OFFICER 40.00 X 603105 0 49475 JANICE APPLEBY SVP/CHIEF HUMAN RESOURCES 40.00 X 585023 0 37218 5373765 0 618639 51 0 1 0 JACK HENRY PO BOX 609 MONETT MO 65708 EBP PROCESSING PARTNER 1601453 EXPEDIENT PO BOX 645209 PITTSBURGH PA 15264 OFF SITE DATA CENTER 1293115 CU ANSWERS 6000 28TH ST GRAND RAPIDS MI 49546 CORE DATA PROCESSOR PARTNER 1184185 APTYS 6801 PARKWOOD BLVD SUITE 201 PLANO TX 75024 FINTECH PAYMENT PROVIDER 627971 MOODY ANALYTICS INC PO BOX 1167140 ATLANTA GA 30368 ALM SOLUTION PLATFORM 609964 24 CORRESPONDENT SERVICES 522100 18972077 18972077 INCOME ON LOANS 522100 1010322 1010322 19982399 323955161 323955161 EQUITY METHOD INCOME F 522100 -1262999 -1262999 -1262999 342674561 342674561 0 0 X 89100 2361272 12742121 1497153 4194148 1126964 122692 320264 1569809 369351 2344302 2913171 1353572 407310 767156 259030144 610486 1869481 293533 CORRESPONDENT SERVICES 12994811 MISCELLANEOUS EXPENSE 2338662 MAINTENANCE 235404 309550906 9253581 13616105 3064455531 2867191795 56752424 34050562 8056970 30349179 34585561 32100097 1952169 2800171 11838795 11218482 1383017 620313 2781191124 3006721490 14857194 19088646 70423409 38957451 6042910980 6045495809 55633357 56248532 750000000 4681874704 5404290838 5487508061 5460539370 X 0 0 0 0 555402919 584956439 555402919 584956439 6042910980 6045495809 X 33123655 -98946 -3471189 X X 0 1 X 1 0 412233 314922 97311 11426562 10903560 523002 620313 DAILY SHARE ACCOUNTS 5134241813 HOLIDAY ACCUMULATION ACCOUNT 149000 CERTIFICATES 261603255 NON-PERPETUAL CAPITAL SHARES 8296770 5404290838 X 341022962 -4426214 -4426214 345449176 -2774615 -2774615 342674561 307899307 2774615 2774615 305124692 4426214 4426214 309550906 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. PART XI, LINE 2D - OTHER ADJUSTMENTS: FRB EBA REPORTED WITHIN THE FORM 990 STATEMENT OF EXPENSES, WHILE THE AUDITED FINANCIAL STATEMENTS REPORT THE AMOUNT NET OF REVENUE. -4,426,214. PART XI, LINE 4B - OTHER ADJUSTMENTS: MEMBER INCENTIVE REPORTED WITHIN THE FORM 990 STATEMENT OF REVENUE, WHILE THE AUDITED FINANCIAL STATEMENTS REPORT THE AMOUNT NET OF EXPENSES. REGARDLESS OF THE DIFFERING PRESENTATIONS, ENDING EQUITY PER THE 990 IS EQUAL TO THAT WHICH IS REPORTED IN THE AUDITED FINANCIAL STATEMENTS. -2,774,615. PART XII, LINE 2D - OTHER ADJUSTMENTS: MEMBER INCENTIVE REPORTED WITHIN THE FORM 990 STATEMENT OF REVENUE, WHILE THE AUDITED FINANCIAL STATEMENTS REPORT THE AMOUNT NET OF EXPENSES. 2,774,615. PART XII, LINE 4B - OTHER ADJUSTMENTS: FRB EBA REPORTED WITHIN THE FORM 990 STATEMENT OF EXPENSES, WHILE THE AUDITED FINANCIAL STATEMENTS REPORT THE AMOUNT NET OF REVENUE. REGARDLESS OF THE DIFFERING PRESENTATIONS, ENDING EQUITY PER THE 990 IS EQUAL TO THAT WHICH IS REPORTED IN THE AUDITED FINANCIAL STATEMENTS. 4,426,214. 1 CAROLINAS CREDIT UNION FOUNDATION 4100 MENDENHALL OAKS PARKWAY SUITE 130 HIGH POINT NC 27265 561842095 501(C)(3) 15400 0 CHARITABLE CONTRIBUTION CROSSSTATE CREDIT UNION FOUNDATION 4309 N FRONT STREET HARRISBURG PA 17110 251786339 501(C)(3) 67700 0 CHARITABLE CONTRIBUTION SOUTHEASTERN CREDIT UNION FOUNDATION 3962 COOLIDGE COURT TALLAHASSEE FL 32311 592252733 501(C)(3) 6000 0 CHARITABLE CONTRIBUTION 3 0 PART I, LINE 2: THE AMOUNTS PAID TO THE ORGANIZATIONS ARE CONSIDERED DONATIONS, NOT GRANTS. SO THERE IS NO MONITORING. SOME DONATIONS ARE EVENT SPONSORSHIP BASED. X 1 1 X X X X X 0 1 0 JEFFREY STONER SVP/CHIEF STRATEGY & TECHNOLOGY OFFI 287265 0 62518 0 429213 0 31050 0 37381 0 847427 0 394805 0 RODNEY MAY SVP/CHIEF ENGAGEMENT OFFICER 261523 0 57150 0 389946 0 28681 0 37381 0 774681 0 353656 0 LORI GALL SVP/CHIEF RISK OFFICER 250571 0 54090 0 376896 0 27419 0 25227 0 734203 0 340952 0 JOSEPH BERTOTTO SVP/CHIEF CULTURE OFFICER 221941 0 48105 0 333059 0 24304 0 25171 0 652580 0 282325 0 JANICE APPLEBY SVP/CHIEF HUMAN RESOURCES 215712 0 46946 0 322365 0 23639 0 13579 0 622241 0 296911 0 FRED EISEL PRESIDENT/CEO 440673 0 72000 0 38318 0 31050 0 25227 0 607268 0 0 0 TIMOTHY J SUSTAK SVP/CHIEF TREASURY OFFICER 200775 0 43875 0 300329 0 22019 0 37306 0 604304 0 261017 0 MARK BROWN SVP/CHIEF FINANCIAL OFFICER 298082 0 64688 0 47523 0 111810 0 37381 0 559484 0 0 0 SCOTT WOOD SVP/CHIEF INVESTMENT OFFICER 240899 0 50625 0 0 0 26965 0 37381 0 355870 0 0 0 DAVID BREHMER PRESIDENT/CEO (RETIRED 01/05/24) 66635 0 151882 0 161 0 15668 0 0 0 234346 0 0 0 PART I, LINE 4B CERTAIN MEMBERS OF MANAGEMENT PARTICIPATE IN A 457(F) PLAN. BENEFIT INFORMATION AS OF DECEMBER 31, 2024 FOR EACH OF THE PARTICIPANTS IS AS FOLLOWS: JANICE APPLEBY: $325,494 (BENEFIT PAYOUT) RODNEY MAY: $394,335 (BENEFIT PAYOUT) JEFFREY STONER: $433,462 (BENEFIT PAYOUT) TIMOTHY SUSTAK: $302,738 (BENEFIT PAYOUT) LORI GALL: $378,630 (BENEFIT PAYOUT) JOSEPH BERTOTTO: $335,132 (BENEFIT PAYOUT) THE 457(F) BENEFIT EXPENSE ACCRUED DURING 2024 FOR EACH OF THE PARTICPANTS REPORTED IN PART VII IS AS FOLLOWS: MARK BROWN: $80,760 DAVID BREHMER PRESIDENT/CEO (RETIRED 01/05/24) TO FUND LIFE INSURANCE POLICY X 3000000 3485142 0 1 1 FRED EISEL PRESIDENT/CEO TO FUND LIFE INSURANCE POLICY X 7800000 7303637 0 1 1 JANICE APPLEBY SVP/CHIEF HUMAN RESOURCES OFFICER TO FUND LIFE INSURANCE POLICY X 3300000 3057463 0 1 1 JAY MURRAY FORMER CEO TO FUND LIFE INSURANCE POLICY X 5300000 4346606 0 1 1 JEFFREY STONER SVP/CHIEF STRATEGY & TECHNOLOGY OFFICER TO FUND LIFE INSURANCE POLICY X 4100000 3848675 0 1 1 SCOTT WOOD SVP/CHIEF INVESTMENT OFFICER TO FUND LIFE INSURANCE POLICY X 3250000 3041698 0 1 1 TIMOTHY SUSTAK SVP/CHIEF TREASURY OFFICER TO FUND LIFE INSURANCE POLICY X 2500000 2281215 0 1 1 RODNEY MAY SVP/CHIEF ENGAGEMENT OFFICER TO FUND LIFE INSURANCE POLICY X 3200000 2984743 0 1 1 30349179 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO CERTAIN CURRENT AND FORMER MEMBERS OF THE EXECUTIVE MANAGMENT TEAM. UNDER THE AGREEMENT, THE EXECUTIVE IS THE OWNER OF THE POLICY AND MAKES A COLLATERAL ASSIGNMENT TO THE CREDIT UNION IN RETURN FOR A LOAN. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS AND ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE MADE UP OF NATURAL PERSON CREDIT UNIONS. MEMBERSHIP IS REQUIRED FOR SERVICE. FORM 990, PART VI, SECTION A, LINE 7A WE HAVE APPROXIMATELY 600 MEMBER-OWNERS WHO ELECT THE BOARD OF DIRECTORS. EACH MEMBER ORGANIZATION HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. IN ADDITION TO ELECTION OF BOARD MEMBERS, SOME MAJOR DECISIONS SUCH AS MERGING REQUIRE MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE CFO COMPILES ALL REQUESTED DATA FOR COMPLETING FORM 990 FROM APPROPRIATE DEPARTMENTS. HE WORKS WITH THE HUMAN RESOURCES DEPARTMENT AND THE CHIEF HUMAN RESOURCES OFFICER TO ENSURE ALL EMPLOYEE COMPENSATION DATA IS ACCURATE. OUR CPA FIRM COMPLETES A DRAFT OF FORM 990 WHICH IS REVIEWED BY THE PRESIDENT/CEO AND CFO. AFTER THE PRESIDENT/CEO AND CFO REVIEW FORM 990 AND ANY NECESSARY CHANGES ARE MADE, THE CPA FIRM FINALIZES 990. FORM 990, PART VI, SECTION B, LINE 12C AT THE START OF EACH BOARD MEETING, EACH DIRECTOR MUST DISCLOSE IF THERE ARE ANY POTENTIAL CONFLICTS OF INTEREST REGARDING ANY ACTION OR DISCUSSION TOPIC THAT WILL TAKE PLACE DURING THE MEETING. IF AFFIRMATIVE, THAT DIRECTOR IS EXCLUDED FROM BOTH DISCUSSION AND ACTION ON THAT SPECIFIC ISSUE. FORM 990, PART VI, SECTION B, LINE 15 WE UTILIZE THE SERVICES OF A THIRD-PARTY CONSULTANT WHO SPECIALIZES IN COMPENSATION STUDIES FOR EVERY POSITION WITHIN THE ORGANIZATION. ALL POSITIONS HAVE SET SALARY RANGES BASED ON OUTSIDE COMPENSATION STUDIES AND RECOMMENDATIONS BY THE COMPENSATION CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G PROFESSIONAL & OUTSIDE SERVICES 1,569,809. FORM 990, PART XI, LINE 9: ISSUANCE OF PERPETUAL CONTRIBUTED CAPITAL 7,796,614. DIVIDENDS ON PERPETUAL CONTRIBUTED CAPITAL -11,267,803. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. MY CU SERVICES LLC 1201 FULLING MILL RD MIDDLETON PA 17057 251865944 PAYMENT SERVICES PA 12315876 21826880 VIZO FINANCIAL CORPORATE CREDIT UNION